唐納德·特朗普就職典禮後，有報導稱他的兒子埃里克·特朗普（Eric Trump）確認，總部位於美國的加密貨幣最終將免於資本利得稅

一月份，唐納德·特朗普就職典禮後，報導稱他的兒子埃里克·特朗普（Eric Trump）確認，總部位於美國的加密貨幣最終將免徵資本利得稅，而非美國的加密貨幣將面臨30％的稅。

Earlier this year, in January, reports emerged claiming that Donald Trump's son, Eric Trump, had confirmed that U.S.-based cryptocurrencies would eventually be exempt from capital gains tax, while non-U.S. based cryptocurrencies would face a 30% tax.

今年早些時候，有報導稱，唐納德·特朗普（Donald Trump）的兒子埃里克·特朗普（Eric Trump）確認，總部位於美國的加密貨幣最終將免徵資本利得稅，而非美國的加密貨幣將面臨30％的稅。

This news came as part of a broader plan to revitalize the U.S. economy, which Trump unveiled in December 2023. The administration aims to simplify the tax code and reduce regulations to boost investment and create jobs within the country.

這一消息是振興美國經濟的更廣泛計劃的一部分，特朗普於2023年12月推出。政府旨在簡化稅法並減少法規，以促進投資並在該國內創造就業機會。

The elimination of capital gains taxes on U.S.-based cryptocurrencies might sound like a dream come true for American investors, but it won't come without a price.

消除對美國的加密貨幣的資本利得稅聽起來似乎是一個夢想成真，但沒有價格就不會。

It remains to be seen whether this will turn into a net negative for the global crypto industry.

對於全球加密行業來說，這是否會變成淨負面尚待觀察。

However, there are some glaring red flags.

但是，有一些明顯的危險信號。

If this new rule actually gets approved and takes effect, be prepared for market turbulence as U.S. investors could dump non-U.S. cryptos, take the tax hit and rotate some of their capital into domestic options. This could increase sell pressure on global projects, particularly those with significant U.S. investor exposure.

如果這項新規則實際上得到批准並生效，請為市場動盪做好準備，因為美國投資者可以拋棄非美國加密貨幣，接受稅收打擊並將其一些資本旋轉為國內選擇。這可能會增加對全球項目的銷售壓力，尤其是美國投資者大量敞口的項目。

But that would be the least of the concerns — this could have far-reaching, long-term consequences for the entire crypto industry.

但這將是最少的關注點 - 這可能會對整個加密貨幣行業產生深遠的長期影響。

This elimination of taxes on crypto investments could trigger a surge in the creation of new cryptocurrencies from the U.S., similar to the 2017 Initial Coin Offering (ICO) boom — in which nearly 80% of projects had collapsed or turned out to be scams within two years. If the U.S. government removes capital gains tax before implementing clear and solid regulations, we could see a repeat of that chaos, but on a much larger scale.

消除對加密貨幣投資的稅收可能會引髮美國從美國創造新的加密貨幣的激增，類似於2017年最初的硬幣發行（ICO）繁榮，其中將近80％的項目崩潰或陷入了兩年之內。如果美國政府在執行清晰和紮實的法規之前先撤出資本利得稅，我們可以看到這種混亂的重複，但規模更大。

A zero capital gains tax would almost certainly lure in U.S. retail investors who’ve never dabbled in crypto, drawn by the obvious tax advantage. But if bad actors flood the space and take advantage of them, it could drive these newcomers away from crypto entirely.

零資本利得稅幾乎可以肯定會吸引美國散戶投資者，這些投資者從未涉足加密稅，這是明顯的稅收優勢所吸引的。但是，如果壞演員淹沒了空間並利用它們，它可能會使這些新移民完全遠離加密貨幣。

The U.S. may be home to major crypto projects like Cardano (ADA), Solana (SOL), XRP and Hedera (HBAR), but it’s also been a breeding ground for scam tokens.

美國可能是Cardano（ADA），Solana（Sol），XRP和Hedera（HBAR）等主要加密項目的所在地，但這也是騙局令牌的繁殖地。

Earlier this year, the FBI issued a warning about criminals creating fake crypto tokens that mimicked legitimate ones, preying on unsuspecting investors.

今年早些時候，聯邦調查局（FBI）發出了警告，警告犯罪分子創建假的加密代幣，以模仿合法的代幣，捕食毫無戒心的投資者。

In addition, global crypto startups may have a more challenging time securing funding if U.S. venture firms start favoring local projects to maximize tax-free returns on token allocations. This could drain investment from emerging markets, where crypto is often used for real-world financial inclusion. Such a change would also likely bring back many U.S. firms back home after they left because of the SEC’s enforcement-heavy approach under the Biden administration.

此外，如果美國風險投資公司開始贊成本地項目以最大限度地提高代幣分配的免稅回報，則全球加密初創公司可能會有更具挑戰性的時間來確保資金。這可能會消耗新興市場的投資，而加密貨幣通常用於現實世界中的金融包容性。由於SEC在拜登政府下的執法方法，這種變化也可能會使許多美國公司離開後回家。

Even if other countries jumped on the bandwagon with their own zero capital gains tax for local cryptos, it might backfire. The market would likely be flooded with new tokens, trading would become more fragmented, and liquidity would dry up for most of them. While countries like the UAE and Cayman Islands already have zero capital gains tax on crypto, they apply it universally, not just to locally-created crypto tokens.

即使其他國家對當地加密貨幣的零資本利得稅跳上了潮流，也可能適得其反。市場可能會被新的代幣淹沒，交易將變得更加分散，並且大多數人的流動性會枯竭。儘管阿聯酋和開曼群島等國家已經對加密貨幣徵收零資本利得稅，但它們普遍應用，而不僅僅是當地創建的加密代幣。

The U.S. taking this approach risks skewing the market, incentivizing artificial token creation and isolating American investors from the global crypto economy. What seems like a tax break now might end up killing competition, pumping money into scams and hurting crypto’s credibility in the long run.

美國採用這種方法有可能偏向市場，激勵人造代幣創建，並將美國投資者與全球加密經濟隔離開來。現在看來的稅收減免可能最終可能會殺死競爭，從長遠來看，將金錢抽入騙局並傷害了加密貨幣的信譽。